A nuclear spectroscopic study of the high-spin ground state of $^{240}\mathrm{Np}$ (${I}^{\ensuremath{\pi}}={5}^{+}$) showed substantial differences from earlier work. The sources, prepared by the $^{238}\mathrm{U}(\ensuremath{\alpha}, pn)$ and $^{244}\mathrm{Pu}(n, p4n)$ reactions, were chemically separated and purified. A total of 34 $\ensuremath{\gamma}$ rays (139.9-1167.1 keV) were observed of which 13 are new; nine others which were reported previously are not confirmed. Absolute intensities of the $\ensuremath{\gamma}$ rays were determined with the aid of $4\ensuremath{\pi}$ beta measurements. A modified decay scheme is proposed and discussed; six levels in $^{240}\mathrm{Pu}$ with ${I}^{\ensuremath{\pi}}={1}^{\ensuremath{-}}, {2}^{\ensuremath{-}}, {3}^{\ensuremath{-}}, \dots{}, {6}^{\ensuremath{-}}$ are assigned to a ${K}^{\ensuremath{\pi}}={1}^{\ensuremath{-}}$ octupole vibrational band. The half-life measured with high purity sources is 61.9\ifmmode\pm\else\textpm\fi{}0.2 min.RADIOACTIVITY 61.9-min $^{240}\mathrm{Np}^{g}$ from $^{238}\mathrm{U}(\ensuremath{\alpha}, pn)$ and $^{244}\mathrm{Pu}(n, p4n)$; radiochemistry, Ge(Li), and $4\ensuremath{\pi}\ensuremath{\beta}$ detectors. Measured ${E}_{\ensuremath{\gamma}}$, ${I}_{\ensuremath{\gamma}}$, ${T}_{\frac{1}{2}}$; deduced ${E}_{{\ensuremath{\beta}}^{\ensuremath{-}}}$, $log\mathrm{ft}$, $^{240}\mathrm{Pu}$ level assignments and decay scheme.